Freestone Grove Partners LP Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Freestone Grove Partners LP acquired a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 400,272 shares of the company's stock, valued at approximately $7,761,000. Freestone Grove Partners LP owned approximately 0.17% of Ingram Micro at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in shares of Ingram Micro during the fourth quarter valued at about $37,793,000. Rhumbline Advisers purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $171,000. Allspring Global Investments Holdings LLC purchased a new stake in Ingram Micro in the fourth quarter worth about $17,432,000. New York State Common Retirement Fund purchased a new stake in shares of Ingram Micro during the fourth quarter valued at about $304,000. Finally, Barclays PLC acquired a new stake in Ingram Micro in the fourth quarter worth about $1,092,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INGM. JPMorgan Chase & Co. reduced their price objective on Ingram Micro from $26.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their price objective on Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Bank of America lowered their price target on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Finally, Loop Capital cut their target price on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $26.21.

Ingram Micro Trading Up 4.4 %

INGM stock traded up $0.84 during trading on Thursday, hitting $19.85. 63,844 shares of the company traded hands, compared to its average volume of 424,279. Ingram Micro Holding Corp. has a 1 year low of $14.25 and a 1 year high of $25.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a 50-day moving average of $17.83.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $13.21 billion. As a group, sell-side analysts anticipate that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.074 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a yield of 1.49%.

Ingram Micro announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Ingram Micro Profile

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world's leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.